Largest marketplace on China-Vietnam border completed

08:14, March 22, 2011      

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The construction of the largest marketplace on the China-Vietnam border was completed on Monday in Dongxing City in south China's Guangxi Province.

The market is located on the east bank of the Peilum River, facing the Vietnamese city of Mong Cai. It covers 51 hectares and cost 2 billion yuan (about 305 million U.S. dollars), said officials with the government of Fangchenggang City, which administers Dongxing City.

The market includes border trade wharfs, import and export channels and various commodity markets.

Mo Gongming, mayor of Fangchenggang City, said the market was built to enhance the economic and trade cooperation between China and Southeast Asian countries.

In 2010, China and the Association of Southeast Asian Nations (ASEAN) established the China-ASEAN Free Trade Area, which provides a zero tariff procedure on 90 percent of products traded between China and ASEAN member countries.

Source: Xinhua
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